Foreclosure filings fall 3 percent in January

Foreclosure filings in Colorado’s largest counties fell 3 percent last month compared to January last year, according to a report released today.

Foreclosure sales at auction rose 61 percent during January, but remain down 29 percent compared to 2008, according to the report by the Department of Local Affairs’ Division of Housing. New foreclosure filings were down 17 percent compared to January of 2008.

Foreclosure activity varied by county. The counties with the largest year-over-year decreases in filings activity were Douglas and Denver, where filings decreased by 26 percent and 17 percent, respectively. The largest increase was in Mesa County where filings increased 159 percent.

Foreclosure sales activity in January increased in all metropolitan counties compared to a year ago. The smallest increase was in Denver County where sales were up 19 percent. The largest increase was in Mesa County which increased 337 percent.

The county with the highest rate of foreclosure sales was Weld County with a rate of 532 households per foreclosure sale. Adams County was a close second with 535 households per foreclosure sale.

The lowest rate was found in Boulder County, where there were 1,779 households per foreclosure sale. The largest increase in foreclosure rates since 2009 was found in Mesa County where the foreclosure rate more than tripled year-over-year.